Gail Martino, Ph.D.’s Post

🌱📊 Generational Shopping Trends and the Future of CPG The recent research from 84.51˚, a subsidiary of The Kroger Co., highlights how generational differences in shopping habits are reshaping the consumer packaged goods (CPG) industry. Why? The study reveals that the future shopper will be older, often living in smaller or multi-generational households, and likely facing economic challenges. These changes call for a shift in how brands and retailers approach product development and customer experience. For instance, Generation Z prefers convenient, pre-diced, and precooked items due to a "lack of cooking confidence." Millennials, on the other hand, prioritize convenience, health, and affordability, influenced by environmental concerns. Moreover, the increasing ethnic diversity in the U.S. is driving a demand for bold, global flavors. This trend provides a significant opportunity for innovation in the CPG sector, particularly in introducing new seafood products. As a SPINS CPG Brand Insights consultant with a passion for innovation, I believe these insights are crucial for developing strategies that resonate with different generations. Whether it's creating smaller packages for older households or offering bold new flavors for younger consumers, understanding these trends is key. 🤔 What generational shopping trends have you noticed? How can brands innovate to meet these evolving needs? 📢 Comment 'CPG' to discuss more about this! #CPG #BrandInsights #Innovation #ConsumerTrends #GenerationalDifferences —- My name is Justin E. Morgan and I’m passionate about all things AI & Automation, GTM Strategy, CPG Brand Insights, as well as Personal & Professional Development. Don’t hesitate to DM with inquires and I look forward to hearing from you!

McKinsey & Company identified five key trends to thriving in 2023: stronger private-brand offerings and promotions, an elevated omnichannel experience, broader business diversification, the integration of generative AI, and sustainability as a driver of top-and bottom-line results. #grocery #supermarket #artificialintelligence #ai https://hubs.ly/Q024fv6n0

Stronger private-brand offerings and promotions are playing a dominant role in deepening customer loyalty. That’s one of the five trends unpacked in our latest state of grocery report. It’s a great read and highlights how technology-fuelled strategies – such as personalization, omnichannel, and generative AI – will be core to future growth in the sector. #retail #b2c #grocery #loyalty 

By incorporating the insights of stronger private-brand offerings, elevated omnichannel experience, broader business diversification, the integration of generative AI, and sustainability as part of core business operations - Grocery retailers could be better positioned to meet consumers where they are and provide offerings that deepen loyalty in 2023 and beyond. #privatebrands #omnichannel #generativeAI #sustainability #groceryretailer #consumerloyalty

🌱 Insights into Consumer Behavior: Adapting Strategies for the Future 🌱 In the ever-evolving landscape of consumer goods, understanding shifting trends is crucial for staying ahead. Recent data from McKinsey & Company highlights both challenges and opportunities: 🛍️ In 2023, overall unit sales per trip declined by 3 to 5 percent across the grocery, health and beauty, and household categories, compared to 2022. 🛒 Amidst declines, however, Gen Z's purchase occasions for grocery and health/beauty products increased by 10% in 2023 compared to 2022. Despite slightly fewer units per occasion, this indicates a significant shift in shopping frequency. 💻 Analysis across five consumer goods categories reveals a notable migration from traditional brick-and-mortar stores to online and value channels. However, volume losses in physical stores still overshadow gains in digital platforms. 💰 The top reasons for reduced grocery purchases are linked to affordability concerns, reflecting a broader trend across various product categories. In light of these insights, McKinsey gave a few strategic considerations for consumer goods companies: 1️⃣ Portfolio Optimization: Align offerings with current consumer demand. Consider exiting segments not meeting expectations while doubling down on high-demand categories like health and wellness. 2️⃣ Channel Expansion: Embrace growing online and value channels. Tailor products and promotions to fit digital shopping environments, potentially exploring unique offerings to stand out. 3️⃣ Pricing and Promotion: Reevaluate pricing strategies to address consumer concerns and maintain margins. Explore flexible pricing architectures and value promotions to incentivize purchases. 4️⃣ Brand Loyalty: Despite the allure of performance marketing, invest in building brand loyalty. Establishing "brand love" can foster long-term consumer engagement and drive both physical and digital sales. In a dynamic market, adaptation is key. By understanding and responding to evolving consumer behaviors, companies can position themselves for sustainable growth in the future. Let's innovate together! #ConsumerInsights #MarketTrends #BusinessStrategy Full story here: https://lnkd.in/ed8aiMPn

Interesting insights on consumer “personalities”. As one of many approaches to boosting volume, the industry is pivoting “from mass to micro.” Likely insight for broader CPG companies…..

Consumers spending more to buy less ❗ McKinsey sheds light on US consumer behaviour shifts in CPG categories. While shopping frequency remains stable, consumers are buying fewer items per trip, driven by price sensitivity. How could CPG executives effectively address this scenario? ✅ Reassess product portfolios and pricing strategies. ✅ Accellerate growing channels, e.g. online channel, increasingly prioritized by Gen-Z consumers. ✅ Continue to invest in brand loyalty! ✅ Shape an agile end-to-end Supply Chain with Industry 4.0 levers, able to meet changing demand patterns.   #fmcg #cpg #industry40 #mckinsey

As I have been researching the consumer products industry. This article has the best concise story to tell.

Trends shaping the #GroceryMarket in 2023 and beyond 1. Ongoing pressure to deliver value to consumers: Reducing spending remains a top priority for #shoppers in all income groups. Indeed, nearly 60 percent of consumers are looking for ways to save money, an increase of 13 percentage points from 2022. 2. Elevated personalized experience across channels: Grocers will continue to invest in personalization and #omnichannel capabilities to attract, engage, retain, and deliver value to customers. To remain competitive, grocers should use purchase history to inform product offerings. 3. #BroaderBusinessDiversification: #GroceryRetailers are evolving their #BusinessStrategies to create ecosystems and explore new revenue streams. They are partnering with tech companies, expanding into consumer services, and selling B2B services. For instance, they've launched e-marketplaces, retail media networks, and health and wellness services. Partnerships with tech companies are on the rise. 4. Acceleration of #GenerativeAI: Grocers should consider developing plans to harness generative AI to transform their business, capture more value, and accelerate growth opportunities. For now, the majority of use cases remain within analytics and the consumer front end. KEY PRIORITIES FOR 2024 • How can we create a seamless omnichannel experience to deliver a personalized offer and messaging at the right time and in the right place? •Which generative AI use cases should we prioritize, and how do we create a test-and-learn culture to get the most out of this technology? •What actions do we need to take to accelerate our transition to renewable power, establish recycling solution coalitions with other grocers, and amplify messaging around ESG-related claims? Read the full article here➡ https://lnkd.in/g_2rUUVx #FoodRetailIndustryNews #FoodRetailIndustryTrends #FoodIndustry #FoodBrokers #WholesaleFoods #Sustainability #TrendTopics #GroceryMarketIndustry

💸 Did you know 54% of shoppers would pay more for ingredients they understand? 💸 We're covering the top 5 shopper trends for FMCG retailers and brands to kickoff the new year in our webinar with NIQ Brandbank: 5 Trends to Watch in 2024. Join industry experts Rebecca Matthews, Brooke Bright, and Roy Woodhouse on January 23rd at 2pm GMT / 9am EST to learn how evolving shopper lifestyles and behaviors are shaping the future, and how to monitor these trends in a competitive landscape.   Topics include: ✔️ How the era of calculated spending will impact shopper purchasing decisions ✔️ What shoppers are prioritizing for healthier lives ✔️ The different approaches shoppers are taking to drive sustainability ✔️ What’s next for the convenience sector ✔️ How innovation is driving the future of shopping ✔️ And more! ⚡ Register now! https://lnkd.in/e6KEj4ra #digitalshelf #ecommerce #digitalcommerce #insights